Piper Sandler Has Lowered Expectations for IAC (NASDAQ:IAC) Stock Price

Key Points

• Piper Sandler has lowered its price target for IAC from $44.00 to $39.00, while maintaining a "neutral" rating, indicating a potential upside of 13.75% from the stock's current price.
• Truist Financial and JPMorgan Chase also reduced their price targets on IAC, with the average target price now at $47.92, reflecting a consensus "Moderate Buy" rating among analysts.
• IAC's stock recently traded down 0.3% to $34.29, with the company reporting $2.57 EPS for the last quarter, significantly surpassing analysts' expectations of a loss.

IAC (NASDAQ:IAC - Get Free Report) had its price objective reduced by research analysts at Piper Sandler from $44.00 to $39.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential upside of 14.14% from the company's current price.

A number of other research firms have also commented on IAC. Cowen reiterated a "buy" rating on shares of IAC in a research note on Monday, May 5th. Citigroup dropped their price target on IAC from $47.55 to $45.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Truist Financial cut their price target on IAC from $61.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday. UBS Group increased their price objective on IAC from $38.00 to $41.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Benchmark cut their target price on shares of IAC from $63.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, IAC presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.92.

IAC Stock Down 2.3%

NASDAQ:IAC traded down $0.82 during mid-day trading on Wednesday, reaching $34.17. The stock had a trading volume of 1,591,347 shares, compared to its average volume of 1,340,562. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 2.87. The stock has a market cap of $2.54 billion, a P/E ratio of -6.34 and a beta of 1.23. IAC has a fifty-two week low of $32.04 and a fifty-two week high of $55.40. The business's 50 day moving average is $38.20 and its 200 day moving average is $39.71.

IAC (NASDAQ:IAC - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $2.87. The business had revenue of $586.93 million for the quarter, compared to the consensus estimate of $601.38 million. IAC had a negative return on equity of 8.23% and a negative net margin of 14.52%. The firm's revenue was down 7.5% compared to the same quarter last year. During the same period last year, the business earned ($1.71) EPS. As a group, sell-side analysts predict that IAC will post 0.43 earnings per share for the current year.

Institutional Investors Weigh In On IAC

Institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its position in shares of IAC by 0.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 50,766 shares of the company's stock worth $1,896,000 after purchasing an additional 316 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of IAC by 1.0% in the first quarter. Bleakley Financial Group LLC now owns 33,097 shares of the company's stock valued at $1,520,000 after acquiring an additional 324 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of IAC by 48.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,124 shares of the company's stock worth $42,000 after acquiring an additional 367 shares in the last quarter. Versant Capital Management Inc grew its position in IAC by 118.6% during the 1st quarter. Versant Capital Management Inc now owns 680 shares of the company's stock worth $31,000 after acquiring an additional 369 shares during the last quarter. Finally, US Bancorp DE raised its position in IAC by 21.9% in the 1st quarter. US Bancorp DE now owns 2,234 shares of the company's stock valued at $103,000 after purchasing an additional 401 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

About IAC

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.